**On Today’s Episode Of The Cryptoverse:**
According to reports on January 27, the Organized Crime Bureau of the Bolivarian National Police (BNP) shut down an 11,000 unit Bitcoin mining undertaking.

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I can't disagree with you more on what happen to those poor people in Venezula, putting smart, productive and educated people to prison it's just shame for the failing government. If you put yourself in their position, which option will you choose using paper toilet money or mining BTC ?

There is NO actual law that prohibits bitcoin mining in Venezuela. Still the government doesn't want to allow electricity to be used for Bitcoin mining and that the people might have the means to live around the capital exchange controls that it has imposed for 12 years. Therefore to arrest miners the authorities instead charge them with electricity theft and money laundering.

One of the rarely legit cloud mining services, I've been using it for quite some time now and I'm very satisfied with the service, even tho I've invested barely something… it's hard being a student.. https://soft-mining.net/?ref=mezmerizer9

If your family was starving you'd probably be less interested in the arbitrary laws of your corrupt government and more interested in feeding your family. The problem isn't that he "broke the law" the problem is that the law and the government are illegitimate. People are starving because of the laws, not for lack of food.

My guess. SEGWIT passes on LitCoin, Turned on about 2-14. The price rise on LiteCoin and the pressure on Bitcoin increases immensely! Bitcoin is quit because the Chinese are on Chinese New Year Holiday Week. Also Feb 11th "Shorts" on Chinese exchanges close, from the PBOC interference last month. Price in LTC and BTC move up significantly THIS month. Go LTC!

I get the triangle trade that is going on with bitcoin in Venezuela. What I do not understand is why these two guys placed their mine operation in the country. Was there some substantial advantage of being in in country vs Columbia. You still have to smuggle the produce across the border so where they locate the mining should not matter that much.

Arrested for using energy that was "socialized" and "free", meaning they stole from the "public" their "electricity" to "mine". Communism sucks because there is no "private" "competition", only "monopolies"

"The charge is apparently that the miners were stealing electricity. But the only reason that people are doing bitcoin mining there, in that land of Bolivarian plenty, is because economic idiocy has made electricity, to all intents and purposes, free. And electricity is the major cost in bitcoin mining."